What's up Jake Paulers?
So I don't really know where this post belongs. Doesn't really seem like there's a super good place to post a suggestion to forums users, so I guess the mods can move it where they will. :P
In any case, I haven't been around for all that long, so I don't know how long this has been going on, but lately I've been noticing more threads where people auction an item and give a very specific time when the auction will end. Inevitably, this causes minor controversies as people sneak in with very slightly higher bids at the very last minute, and the auction ends before anyone can put in a higher bid. This puts the auctioneer in a weird position, as they are morally obligated to take the lower bid that was sent at 7:59, as opposed to the higher one posted at 8:01. And obviously, it also stinks for the person that was willing to pay a higher price for the item but doesn't get it. The only person that really benefits from this arrangement is the weasel that sneaks in with a last minute bid.
Luckily, there's a super easy and obvious fix that will prevent controversies and economic inefficiencies brought on by specific auction end times ... Not... having them....!
If you give a specific time when an auction will end, then there's no incentive for anyone to bid until the absolute last minute, which means that you won't be getting the highest price for your items. So just like... don't do it. If you want people to get bids in quickly, then say something to the effect of "I'll close the bidding sometime today." That way, there's actually a reason for people to bid early and often, rather than just waiting until the specified time to throw out a lowball offer. Ultimately, I guess I can't tell you how to do things, but like... giving specific end times isn't very smart if you like to have a lot of credits.
Lel dab,
Airham
So I don't really know where this post belongs. Doesn't really seem like there's a super good place to post a suggestion to forums users, so I guess the mods can move it where they will. :P
In any case, I haven't been around for all that long, so I don't know how long this has been going on, but lately I've been noticing more threads where people auction an item and give a very specific time when the auction will end. Inevitably, this causes minor controversies as people sneak in with very slightly higher bids at the very last minute, and the auction ends before anyone can put in a higher bid. This puts the auctioneer in a weird position, as they are morally obligated to take the lower bid that was sent at 7:59, as opposed to the higher one posted at 8:01. And obviously, it also stinks for the person that was willing to pay a higher price for the item but doesn't get it. The only person that really benefits from this arrangement is the weasel that sneaks in with a last minute bid.
Luckily, there's a super easy and obvious fix that will prevent controversies and economic inefficiencies brought on by specific auction end times ... Not... having them....!
If you give a specific time when an auction will end, then there's no incentive for anyone to bid until the absolute last minute, which means that you won't be getting the highest price for your items. So just like... don't do it. If you want people to get bids in quickly, then say something to the effect of "I'll close the bidding sometime today." That way, there's actually a reason for people to bid early and often, rather than just waiting until the specified time to throw out a lowball offer. Ultimately, I guess I can't tell you how to do things, but like... giving specific end times isn't very smart if you like to have a lot of credits.
Lel dab,
Airham